Desai, PranavKopp, Vanessa Johanna2025-08-122025-08-122025-01-132024-12-17http://hdl.handle.net/10362/186344The merger between UTC and Raytheon was subject to significant transaction value, completion and enforcement risks due to regulatory scrutiny, shareholder concerns and market volatility. Experts warned of additional challenges due to UTC's integration fatigue and the contrasting stock price performance in the past. Would legal safeguards such as ‘Hell or High Water’ and the Material Adverse Effect clause be enough to stabilise the transaction? An in depth analysis of strategic risk mitigation—through due diligence, financial structuring, and risk allocation—reveals how these factors shaped the course of the deal. As COVID-19 shook global markets, a pressing question arose: could the merger have failed? By examining these challenges, the findings underscore the fine line between risk and resilience in high-stakes mergers and acquisitions.engMerger & AcquisitionMerger of equalsShareholder activismStrategic diversificationSynergiesRisk managementCase studymaster thesis203961153